What is SafeMoon
SafeMoon (SAFEMOON) is a digital currency similar to Etheruem or Bitcoin's currency, but it differs in some aspects as well. The creators made it with the idea of resolving some of the issues that the aforementioned cryptocurrencies have, such as the high price volatility.
SafeMoon discourages day trading and rewards the long-term holders of the token by charging a 10% fee on each sale, where half of the fees are then collected and embarked for pre-existing coin owners that receive dividends in the form of additional cryptocurrency tokens, which have a SafeMoon price.
SafeMoon is a cryptocurrency token that is BEP-20 based and launched on the Binance Smart Chain (BSC) ecosystem. It is built to have three core components, such as the reflection, where the SafeMoon transactions are charged a fee that gets distributed to the holders of the token, which impacts the SafeMoon Price, and then you have a fee which is charged on a transaction that is given to various liquidity pools on multiple platforms, including PancakeSwap as an example.
Then you have the token burn process that happens after each trade. In order to reach consensus, the SafeMoon token is built on the Binance Smart Chain and, as such, uses Proof-of-Authority, and this means that the creators are known as validators. The validators are pre-approved and chosen by Binance as well.
SafeMoon Founders
The SafeMoon protocol was founded by John Karony, who was an analyst for the U.S. Department of Defense and is the chief technology officer over at Thomas SMith. Furthermore, we have the community manager known as Trevor Church as well as the COO Jack Haines-Davies.
The project launched on March 8 in 2021, as a digital asset that has a decentralized finance-based ambition. It runs on blockchain technology and is a public ledger that is shared across a peer-to-peer network that records information about every transaction out there. This is all based on the SafeMoon Price.
How Does SAFEMOON Work
The SafeMoon (SAFEMOON) protocol is a combination of RFI tokenomics and auto-liquidity generating protocols. SafeMoon even has plans of developing an NFT (Non-Fungible Token) exchange and even charity projects as well as crypto educational applications in the future.
The idea here is for token holders to earn the SAFEMOON token depending on how many coins they have, which can be up to an 80% APY. The SafeMoon protocol defines the SafeMoon price, and SafeMoon Plans in the future can show us data SafeMoon ROI long-term as well as prove just how SafeMoon Network secured it is. It uses an auto liquidity generating Protocol and will develop crypto educational apps. It can lead to lp acquisition, and SafeMoon plans to develop other usages in the future.
In terms of the security, the developer burned all of the tokens in the Dev Wallet before its launch, and there was a fair launch on DxSale, where the LP is locked on DxLocker for four years, and an LP is generated with every trade then locked on PancakeSwap, which marks just how secure the network is.
In other words, SafeMoon is a BEP-2o token launched on March 8 of 2021, and SafeMoon transactions are charged a fee that gets distributed to the holders of the token. Then you have a fee that is charged on transactions which are given to various liquidity pools on PancakeSwap, and it uses proof-of-authority as a consensus mechanism.
Where Can You Buy SAFEMOON
SafeMoon (SAFEMOON) has an available supply of 579,692,506,603,920 and a total supply of 1,000,000,000,000,000. If you want to buy, sell or trade SafeMoon (SAFEMOON), you can do so on the following exchanges: LBank, PancakeSwap, BitMart, Gate.io, MXC, Hotbit, and Bitrue.
Our step-by-step guide on how to buy SafeMoon (SFM) will help you get started!
